Simon Quick Advisors LLC Makes New Investment in GoDaddy Inc. (NYSE:GDDY)

Simon Quick Advisors LLC acquired a new stake in GoDaddy Inc. (NYSE:GDDY) during the fourth quarter, Holdings Channel.com reports. The firm acquired 1,303 shares of the technology company’s stock, valued at approximately $257,000.

Other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in GoDaddy in the third quarter valued at $27,000. ORG Wealth Partners LLC purchased a new position in shares of GoDaddy in the 3rd quarter valued at about $30,000. Anchor Investment Management LLC purchased a new position in shares of GoDaddy in the 3rd quarter valued at about $31,000. Versant Capital Management Inc acquired a new stake in shares of GoDaddy during the 4th quarter worth about $43,000. Finally, Huntington National Bank lifted its stake in GoDaddy by 298.7% during the third quarter. Huntington National Bank now owns 307 shares of the technology company’s stock worth $48,000 after purchasing an additional 230 shares during the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Morgan Stanley raised their price objective on shares of GoDaddy from $189.00 to $227.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. StockNews.com lowered shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Robert W. Baird upped their price objective on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. lifted their target price on GoDaddy from $175.00 to $224.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, Raymond James upped their target price on GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a research report on Tuesday. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $198.07.

Insider Transactions at GoDaddy

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $183.80, for a total transaction of $183,800.00. Following the transaction, the chief operating officer now directly owns 185,632 shares in the company, valued at approximately $34,119,161.60. This represents a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $167.79, for a total transaction of $503,370.00. Following the sale, the chief executive officer now owns 345,956 shares of the company’s stock, valued at approximately $58,047,957.24. The trade was a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 24,483 shares of company stock valued at $4,759,553. Corporate insiders own 0.61% of the company’s stock.

GoDaddy Stock Performance

NYSE:GDDY opened at $207.44 on Friday. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market cap of $29.12 billion, a price-to-earnings ratio of 16.03 and a beta of 1.15. The firm’s fifty day moving average price is $200.75 and its 200 day moving average price is $173.12. GoDaddy Inc. has a 1-year low of $106.42 and a 1-year high of $211.11.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.89 earnings per share. On average, sell-side analysts expect that GoDaddy Inc. will post 4.96 EPS for the current year.

About GoDaddy

GoDaddy Inc engages in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce, and Core Platform. The Applications and Commerce segment provides applications products, including Websites + Marketing, a mobile-optimized online tool that enables customers to build websites and e-commerce enabled online stores; and Managed WordPress, a streamlined and optimized website building that allows customers to easily build and manage a faster WordPress site; Managed WooCommerce Stores to sell anything and anywhere online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business, and email and social media marketing designed to help businesses acquire and engage customers and create content.